The Mankato free press. [volume] (Mankato, Blue Earth County, Minn.) 1879-1924, 1887-02-18
TINE rssuANca OF BONDS.

| BY act of the legislature passed Febrn
AIRY 18th, the Board of County Commits
sioners are authorized TO submit TO the
voters Of Blue Earth county PROPOSE
ton to vote on the issuance OF $4,000
bonds for the completion of the Court
House now under process Of construc
ton. The bonds shall not run less than
five nor more than ten years, and shat
not draw a greater rate of interest than
five per cent.
The County Commissioners will meet
tomorrow and issue call for the sub
mission of the question on the Sth Of
March--town meeting day. This they
do 70 save expense, but a special cleo
ton win have to be held in the city.
There seems to be little or no opposition
to the issuance of bonds. In fact this
seems to be about the only practical way
TO adjust the matter To allow the build
ing TO be put up in piece-meals means an
additional expense of two or three thou
sand dollars for clerk of the works and
County Commissioner services, as il will
require three years to complete the
work if We have to be guided by direct
taxation, where one year viii suffice if
the bonds carry.
For the information Of our readers,
we annex herewith the act as passed by
the legislature.
AN ACT TO authorize the County Com
missioners of Blue Earth County to is
sue bonds for certain purposes.
Be Il enacted By tie Legislature Of the State
Of Minnesota;
SECTION I. That the County Commissioners
OF the County OF Blue Earth are hereby au-
thorized and empowered 20 issue, as herein
after provided, at any time prior TO the first
day or January, A. D., one thousand eight
hundred and eighty-eight Ilsssl, the bonds OF
not exceeding In amount the sum OF thirty
thousand dollars lS30,O00l, for the purpose OF
completing and furnishing In the said county
OF Blue Earth, at county seat therein, conrt
house. which is now IN process Of construc-
ton.
Sec, 9. The said bonds shall be in sums Of
not less than five hundred dollars lS500l each,
with interest not exceeding five per cent per
annum, payable seni-annually, and the prin-
cipaI shall be payable in not less than five [5l
nds Gse Ss Sy sea ed tbat tSs
said bonds may be payable at dner0nt times
and IN different years within said limits. Said
bonds and coupons thereto attached shall be
sIgned by the chairman OF the said Board OF
County Commissioners and counterSigned by |
the Auditor OF said county.
Sec. 8. The said Board of County Commits |
sioners shall have authority TO negotiate said |
bonds as in their Judgment shall be best for |
the interest of said county; provided that said |
bonds shall not be sold at less than par.
Sec 4. The said Board Of County Commits |
siOners shall, and they are hereby authorized !
and empowered TO levy an annual tax on the |
taxable property of said county, over and
above and IN addition to all other taxes re- |
quired by law, to be levied, SUFFICIENT to pay |
the interest accrutnG on said BONDS as they |
shall mature; which taxes shall be levied and /
collected in the same manner as other taxes
for county purposes are levied and collected, |
and no part OF said taxes so collected shall be /
appropriated for any other purposes than the /
Provided, that there shall DO no tax levied for |
the payment Of the principal of said bonds I'M
til after the expiration OF three lSI years from /
the date of said bonds.
t0E4as sbgL. however. b. fret submitted 70 the !
Z GIc u Tie ELECTORS oil said county 1t g gener-
al or special election, TO be designated by the
said Board OF County Commissioners, and the
said County Commissioners are hereby author
lied and empowered hereafter to call an cleo
ton for that purpose, at such time as they
shall be given at least ten lI0l days prior 10
the time of the holding thereof the call OF
said election shall set forth that the question
of issuing said bonds viii be voted at such
election, copies of which notice aud call shall
be posted in the usual places required by law
for the holding OF elections IN the several
towns and villages in said county, and in the
several wards of the city OF Mankato in said
county. The ballots used at such election for
the purpose of voting on said proposition
shall have written orprinted, or partly written
and partly printed thereon, the following
words: For issue of Bonds for completion OF
Court HoRse," or Against issue of Bonds for
Of Court House." Said election
shall be conducted in the same manner as
elections for county officers and the vote cast
and canvassed in like manner, and if upon the
canvass OF said votes It shall be found that O
majority OF the voters who shall have voted on
the said proposition have voted in favor
viz: For tho issue Of bonds for the
completion of Court House, then the issue !
of said bonds shall be lawful,
Sec. 6. This act shall take effect and be in !
force from and after its passage.